PrivatAir buys 30% of Saudia Private Aviation

PrivatAir Saudi Arabia has bought 30 percent of Saudi Private Aviation, a unit of the national carrier, Saudi Arabian Airlines (Saudia), the state-run Saudi Press Agency reported.

Under the agreement, PrivatAir will comprehensively restructure Saudia Private Aviation’s business, including expanding and modernizing the fleet which caters to corporate travelers.

A value for the deal was not mentioned.

In 2006, Saudia decided to privatize some of its units. It listed its catering unit, Saudi Airlines Catering Co. in 2012 and its logistics unit, Saudi Ground Services Co., last month after an initial public offering.